Malaysian Fund Managers See
Sharp Pullback in Stock Market

By

Pui-Wing Tam Staff Reporter of The Wall Street Journal

Updated May 30, 1996 12:01 a.m. ET

After the Kuala Lumpur Composite Index surged from 995.17 points at the end of 1995 to Wednesday's close of 1137.95, managers of Malaysia funds are once more turning cautious on the market. Their tiptoeing attitude is reminiscent of late 1995, when managers sold down Malaysia because of its gaping current-account deficit and perceived economic overheating.